Zcash Crypto Clocks New All-Time High as ETF Hype Triggers Excitement

Key Insights:

• Zcash crypto soars as high as $857, entering uncharted territory.
• Zcash ETF may become a reality courtesy of GrayScale.
• ZEC open interest soars to $1.5 billion as Grayscale casts a spotlight on privacy.

Zcash crypto just joined the list of a few cryptocurrencies that surged to new all-time highs this week. The demand fueling its momentum was driven not only by recent market excitement but also by Zcash ETF-related hype.

Zcash crypto just had its most bullish week in the last 12 months. The privacy coin was up 62% this week, trading at $793 at press time.

However, the cryptocurrency previously surged to $857 on Saturday morning. This was officially the highest price Zcash crypto has achieved since its launch.

It was worth noting that ZEC price was not overbought on the weekly chart. However, it was already deep in overbought territory on the daily chart and was already within levels where it had pivoted multiple times in the past.

Zcash Crypto Excitement Builds Around ZEC ETF Possibility

Part of the bullish momentum behind the ZEC crypto price this week may have stemmed from expectations for a ZEC ETF. A recently published Grayscale Zcash Trust filing revealed that a listing could take place on 25 August.